Auriga maintains its bullish stance on Yingli Green Energy (YGE) following its earnings report a few days ago and is raising the price target a bit from $17 to $18 which is about 50% higher than current levels.
The firm notes that strength from Italy and Germany should lead to better than expected module price declines and that returns on solar projects will remain solid.
Shares of YGE have pulled back the past two days, … Read the rest
Auriga sent over a research report to us this morning, reiterating their cautiously bullish stance on China solar stocks following a 7 day trip throughout China. The firm visited both public and private companies and while positive in the near term for both shipments and pricing, there is some trepidation due to rising costs.
Commenting on earnings season, they feel that while most companies will post beat and raise quarters, some may reveal some margin … Read the rest
Auriga is out reiterating its Buy rating and $17 price target on Yingli Green Energy (YGE) ahead of its earnings report Friday morning. Here are highlights of the notes..
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· Stock price does not reflect cash flow implied by 2011 estimates. The stock has risen enough to account for stronger than expected Italian demand.
· Margins better than guided in 4Q, but still decline … Read the rest
Yingli Green Energy (YGE) announced it has signed a new 20MW solar module supply agreement with San Diego-based Borrego Solar Systems Inc. for 2011 which will be used in commercial projects across the US. Borrego Solar isn’t a stranger to Yingli. They bought 10MW from Yingli last year.
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Shares of YGE aren’t moving on the news today, down a few percent, but much improved … Read the rest
Earlier today I posted a summary of Auriga’s bullish outlook on solar stocks for 2011. According to Barrons, Credit Suisse has also posted their outlook for solar stocks this year, but is less bullish. They have a cautious view in the near term and a Market Weight rating on the sector.
Auriga commented on the elasticity of the solar market where demand picks up as prices fall. Credit Suisse notes that this has traditionally … Read the rest
Yingli Green Energy (YGE) is announcing a big order this morning with Germany’s Solarstrom AG (this was actually originally announced over a week ago by SAG). Yingli will supply 220MW in solar modules to the big German solar developer over the next three years. The two companies have been working together for more than five years and Yingli is a preferred supplier of SAG. No word on the financials of the deal.
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According to Barrons, Jefferies believes that fears about a slow down in solar business in Germany due to caps on investments in renewable energy are overblown and that Germany is committed to making clean energy 18% of total energy consumption within the next 10 years.
Analyst Jesse Pichel’s visits with officials and companies in the Berlin area indicate that “there will be no German solar cap in 2011, but the [German Environment Ministry] does … Read the rest
Yingli Green Energy (YGE) got a lift this morning on positive comments out of Wells Fargo and is also helped by news that it has been selected as a major solar module supplier for the Golden Sun Program which is the China governments plan to accelerate the use of solar energy in the country. They recently announced a plan to expand the Golden Sun portfolio to 1GW within two years. Last month 272MW in solar … Read the rest
Jefferies has a Buy rating and a $41 price target on American Superconductor (AMSC) and believes it’s the best wind play in China since its largest customer is Sinovel which is the #1 wind energy company in China.
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Wells Fargo is out this morning with several solar calls and is mostly bearish. They upgraded Yingli Green Energy (YGE) from Market Perform to Outperform citing low production … Read the rest
Auriga issued reports on both Solarfun (SOLF) and Yingli Green Energy (YGE) and remain bullish on both.
They are maintaining the Buy rating on Yingli Green Energy (YGE) but reducing the price target a bit from $15 to $13 because the firm believes margins may be peaking. However they believe the Fine Silicon depreciation and Panda expansion costs are overblown and believe the company will continue to gain market share. Shares of YGE traded down … Read the rest